Steve Murray on COVID and real estate company profits
Today’s HousingWire Daily features a crossover episode with RealTrending, a podcast that focuses on interviewing the brightest minds in real estate and the housing market. In this episode, Steve Murray, Actual trends advisor and industry stalwart, discusses the impact of the recent resurgence of COVID-19 and shares insight into recent real estate company earnings calls.
Additionally, he announces a new RealTrends real estate team performance study to be launched in September.
Resurgence of COVID-19: We are already noticing that many of our brokerage clients are turning back to virtual meetings. This is a trend that seems to be gaining momentum among the major brokerages in the country, in all parts of the country, just for security reasons.
Business income: If you look at the performance of some of the biggest stock exchanges, like Zillow, red fin, open door and Compass, it will be interesting to see when or if they reach valuations. In other words, will they increase their valuations over time? Who knows for sure? Admittedly, I wouldn’t venture to say whether any or all of these companies will in fact increase their valuations.
But it does mean that we will continue to see new competitors with new ways of doing business, securing funding from various sources to gain their share of the residential brokerage market. Does that mean the incumbents should be running around screaming with their hands in the air and their hair on fire? Do not do that !
The real estate teams: We understand that teams can be scaled because there is real estate teams now does 1,500 to 5,000 transaction sides, which is considerable. Some teams would qualify for the RealTrends 500 or Nation’s Best brokerage rankings. We will be launching a new real estate team study in September. We will inform each of you and invite all your teams who wish to participate to join us in this in-depth national team performance study. We will produce a benchmark report while maintaining strict confidentiality for each team’s submissions. The Benchmark Report will provide Owner-Brokers, Team Leaders and Team Owners with good insights into the performance of top teams.
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